Limits to self-interested payoff maximization that have been studied by behavioral economists include
a. limited cognitive ability.
b. limited willpower.
c. limits to self interest.
d. all of the above.
d
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There is no completely satisfactory way to define the money supply in the United States because
A) data on the money supply are always approximate and only available after a time lag of several months. B) much of it is held by the public and so cannot be monitored by the Fed. C) the Federal Reserve uses a number of different definitions. D) the liquidity of any asset is a matter of degree.
"If the marginal social benefit of a car exceeds the marginal social cost of a car, we are producing too many cars." True or false? Explain
Indicate whether the statement is true or false
Below the short-run shutdown price, the firm
A) is earning positive economic profits. B) is earning negative economic profits. C) is making a normal rate of return on its capital investment. D) may be earning a positive or negative economic profits depending upon costs.
Public goods are any goods provided by units of local, state, or federal governments.
Answer the following statement true (T) or false (F)